If it wasn't obvious already, then the warning by the Governor of the Bank of England, Mervyn King in his speech in Liverpool on Tuesday that "time is running out" for the world economy to sort itself out was a startling reminder of the economic slump we now face in the UK. When we look at the numbers, we are facing a perfect storm.

Total UK growth between April and June reached an anemic 0.1%, whilst just on Tuesday, inflation was reported to have reached 5.2%. Last week, the independent Institute for Fiscal Studies reported that the Government's benefit and taxation changes will have a net effect of increasing to 3.3 million the number of children in relative poverty and 3.1 million in absolute poverty by 2020. Figures have revealed that over 2.5 million people are now unemployed – a 17 year high.

The Office for National Statistics has clearly reported that North East England has the highest unemployment rates of anywhere in the country, spurred on by its reliance on public sector jobs which quite simply are no longer there. Little wonder that the Work Foundation has previously warned that the UK faces a "two nation recovery" in which the north risks being left trailing behind the south.

On your bike? The recession has already increased the number of the north's unemployed young people who are not in education or training. Photograph: Christopher Thomond/Guardian

And the end result of all this? Recent polling by ComRes for ITV News has shown that Northern England is amongst the most pessimistic regions in the country when it comes to future prospects for the economy, with 66% of northerners expressing a belief that the UK is on course for a second recession, a number which increases to 71% when looking a responses from just the North East.

Furthermore, the same poll reported that:

69% of those polled across the north believed the Government should be investing in a series of large scale infrastructure projects to boost the UK economy – the highest proportion of people supporting this of any other UK region.

Northerners are more worried than anyone else in the country about the prospects of themselves or a member of their family losing their jobs.

40% of those in the North, again a higher proportion than any other region, believed that there would be more redundancies at their work place this year than there were last.

Given the scale of the economic crisis, it is little wonder that ahead of his Autumn Statement to Parliament at the end of November, the Chancellor is looking for new ideas to encourage economic growth, the vital ingredient in creating jobs, cutting the number of people out of work reliant on benefits, encouraging people to spend again and creating the businesses that can once again pay their taxes into the treasury coffers.

The Guardian Northerner is therefore looking for your ideas.Given the difficulties being faced across Northern England in particular, what one thing would you do to stimulate economic growth across the north? Post your suggestions below and we'll collate everyone's responses to present to the main three parties for them to respond to.

It's not surprising that people in the North are feeling pessimistic – unemployment is high and likely to continue rising as public sector cuts hit jobs harder in the North than the South. There needs to be more support for the private sector to absorb the jobs that are being lost as a result of public sector cuts, particularly in the worst affected areas such as the North East.

The Northern economy would be given a big boost if it were to have a dedicated Northern Investment Bank which specialised in funding to help small and medium sized businesses and innovation.

For Gordon Birtwistle meanwhile, Liberal Democrat MP for Burnley and Parliamentary Aide to the Chief Secretary to the Treasury, Danny Alexander, it is the spread of apprenticeships which are likely to provide a major boost for the northern economy. He tells us:

I have never found northern people to be overwhelmingly pessimistic or noticeably more so than those occupying the south but the area is perhaps worse off in terms of the density and variety of jobs available. Apprenticeships in my opinion offer a unique opportunity and provide a boost to organisations and individuals within the fields of industry and trade which will undoubtedly benefit the economy through training skilled workers and developing the skills of the unskilled and introducing them to a working environment.

And Rachel Reeves, Labour MP for Leeds West and shadow Secretary Chief Secretary to the Treasury, tells us:

The government's economic policy is hitting the north hard: unemployment is at a seventeen year high and our economy is flatlining. 683,000 people are out of work across the north, including 145,000 young people. In Yorkshire, unemployment has risen by 14% over the last three months. Before they were abolished, Regional Development Agencies such as Yorkshire Forward generated as much as £8 for every £1 invested in local economies, but their replacement, the Regional Growth Fund, has only invested in two businesses nationwide.

As our economy flatlines, and this government allows jobs in South Yorkshire to go to South Korea by cancelling the Sheffield Forgemasters loan, people are right to be concerned. Hard-pressed families and businesses need more support. Labour's Five Point Plan, which includes cutting VAT back to 17.5% until the economy recovers and giving a National Insurance holiday to small firms taking on new employees would get money in people's pockets and give businesses in the north a welcome boost.